Ethereum (ETH) is a decentralized blockchain platform that enables smart contracts and decentralized applications (dApps) to be built and operated without downtime, fraud, control, or interference. It was proposed by Vitalik Buterin in late 2013 and launched in 2015.
Key Details:
Symbol: ETH
Founder: Vitalik Buterin (with co-founders Gavin Wood, Joseph Lubin, Charles Hoskinson, and others)
Launch Date: July 30, 2015
Consensus Mechanism: Proof of Stake (PoS) since Ethereum 2.0 (The Merge) in September 2022
Smart Contracts: Self-executing contracts coded on Ethereum’s blockchain
Native Currency: Ether (ETH), used for transaction fees and staking
Main Use Cases: dApps, DeFi (Decentralized Finance), NFTs, DAOs (Decentralized Autonomous Organizations), and Layer-2 scaling solutions
Ethereum Network Upgrades:
Ethereum 1.0 (2015–2020): Used Proof of Work (PoW) like Bitcoin.
Ethereum 2.0 (The Merge - 2022): Shifted to Proof of Stake (PoS), reducing energy consumption by ~99%.
Shanghai Upgrade (April 2023): Allowed staked ETH withdrawals.
Dencun Upgrade (March 2024): Improved Layer-2 scaling with proto-danksharding (EIP-4844), reducing gas fees for rollups.
Ethereum's Role in DeFi & NFTs
DeFi: Platforms like Uniswap, Aave, and MakerDAO run on Ethereum, enabling lending, borrowing, and decentralized trading.
NFTs: Popular collections like Bored Ape Yacht Club (BAYC) and CryptoPunks are minted on Ethereum using the ERC-721 standard.
Ethereum Staking
ETH holders can stake 32 ETH to become network validators or use staking pools for smaller amounts.
Staking rewards range between 3–6% APR depending on network conditions.
Ethereum remains the leading smart contract platform, constantly evolving with new innovations in scalability, security, and efficiency. Let me know if you need specific details!
